In every city there are districts and neighborhoods where buying a home is more expensive than in others. Housing prices can rise and fall due to various factors, such as proximity or distance from the city center, the development of public transport and communication with other important social services, or maybe it's all purely a matter of prestige or bad reputation of a particular area.
A recent study from the real estate valuation and consulting portal Tecnitasa has identified the streets in Spain with the highest and lowest home purchase prices. The study is conducted annually and is based on information from key Spanish cities.
Fernando Garcia Marcos, Technical Director of Tecnitasa, points out: "The average annual increase in house prices in the areas under consideration was 4%. In the most expensive areas, the average is slightly lower — 3.5%. In cheap areas, the growth rate is higher — about 4.5%. Although the market was full of expectations of a decline in prices, the indicators are still holding up confidently."
The most expensive streets in Spain
The report indicates that the most expensive streets for the purchase of housing, calculated per square meter:
- "Calle Serrano" in Madrid, which still demonstrates the highest housing prices in Spain - 11,400 euros per square meter with an increase of 1% per year;
- "Paseo de Gracia" in Barcelona, where the price is close to 10,000 euros per square meter, and the growth was 3.5%;
- "Avenida Libertad", "Plaza de Guipúzcoa" and "Calle Hernani" in San Sebastian showed prices above 8,000 euros per square meter and an increase of 3.75%.
The cheapest streets in Spain
Now let's turn to the opposite part of the list, the cheapest streets and districts of Spanish cities:
- "Talavera de la Reina" in Toledo with a price per square meter of 350 euros;
- "Barrio de Carrús in Elche" with a price of 440 euros per square meter;
- "Barrio Juan XXIII 2º Sector" in Alicante, where a square meter costs 440 euros;
- "San Telmo" in Jerez de la Frontera, where you can find real estate at a price of 450 euros per square meter.